Wednesday, 13 June 2012

Fission Energy granted Tier 1 status by TSX Venture Exchange

Fission Energy (CVE:FIS), a junior Uranium explorer, said Wednesday that it has been granted Tier 1 issuer status on the TSX Venture Exchange.
The Kelowna, British Columbia-based company, which has a market capitalization of $48.80 million, will start trading as a Tier 1 issuer today.
Chief executive Dev Randhawa noted the exchange's listing requirements state: "The Exchange’s premier tier is reserved for the Exchange’s most advanced issuers with the most major financial resources."
"Fission takes great pride in meeting these high standards," he added.
In April, the Uranium explorer announced that it found significant anomalous radioactivity in the final hole of a winter drill program at the joint venture Patterson Lake South property, in Saskatchewan.
The company said that hole PLS12-016 intersected “multiple intersections of anomalous and variable radioactivity.”
This included 2.50 metres measuring less than 300-799 counts per second (cps), 7.50 metres of variable radioactivity to a maximum peak of 1,725 cps, and 5.00 metres measuring less than 300-378 cps.
The hole was collared 823 metres east of previous hole PLS12-013, which encountered 19.50 metres of anomalous radioactivity, along an EM conductor identified from a 2012 airborne survey to the west of Patterson Lake.
The Patterson Lake South property is a fifty-fifty joint venture with Fission and partner ESO Uranium Corp (CVE:ESO).
Fission is focused on the acquisition and exploration of Uranium properties in Alberta, Saskatchewan and Quebec in Canada, as well as the Macusani District in Peru.
Its flagship Waterbury Lake project rests immediately west of Hathor Exploration’s (TSE:HAT) Roughrider Uranium deposit, which is in the heart of the Athabasca Basin district that hosts over 110 million pounds of Uranium.
Earlier this month, Fission announced the completion of the 2012 winter drill program at its joint venture Waterbury Lake property, with 40 of 49 holes at the all-important J Zone hitting mineralization and growing the target area in three directions.
Fission’s share price closed Tuesday at 43.5 cents on the TSX Venture Exchange.

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